This bill aims to limit the increase in the appraised value of a residence homestead for ad valorem taxation. It proposes provisions to cap the annual increase in homestead property values for tax purposes, thereby preventing excessive tax burdens on homeowners due to rising property values. The main impact of this bill would be to provide property tax relief for homeowners by restricting how much their property taxes can increase annually based on the appraised value of their homestead.
2023-01-09: Filed
2023-03-03: Read first time
2023-03-03: Referred to Ways & Means
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